Silver vs Euro

Precious Metals


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XAGEUR Price Chart

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Silver is a precious metal extracted from mining sites around the world. The top silver mining country is Mexico with an average of 180 million ounces per year. Due to the versatility of the white metal uses and the fact that it is subject to a finite stock, it is considered a highly tangible asset and is traditionally referred to as a safe haven asset.

Since ancient times, silver has been used to produce coins and jewelry. With the advancement of research and new technologies, the metal now has applications in the industrial, medical, and technological sectors, as well. Almost 60% of silver production is used for these sectors, compared to 20% used for jewelry. In addition, about 8% of the precious white metal is used for investment purposes.

Factors affecting XAG price

Like most commodities, the price of silver is generally affected by supply and demand and speculation. Some of the factors that can affect silver prices include:

Technology and Industry

Silver is a ductile and malleable metal. It is also a good conductor of energy and electricity which means that it is widely used for the production of electronic components. High demand for the precious metal within this industry can cause the price of silver to skyrocket. If, on the other hand, demand falls, the price could fall.


The field of telecommunications is continuously advancing along the development of other new technologies. The launch of the 5G network could increase the demand for silver as the metal is one of the key components for manufacturing transmissions.

Economic Data

The release of various economic data from around the world could affect silver prices. For example, the manufacturing Purchasing Managers' Index (PMI) data is a confidence indicator for silver demand.

Socio-Political Factors

Socio-political events can also have a direct impact on silver prices. In 2020, because of the COVID-19 pandemic and the global lockdowns, silver production in silver mines had to be suspended.

Production fell by about 6% while the growing interest of investors in the safe-haven asset drove the price of the metal higher. According to the Silver Institute’s “World Silver Survey 2021”, the net investment in silver ETPs soared to 298% in 2020.

Renewable Energy Applications

Increasing popularity for environmentally friendly and renewable energy products could cause the demand for silver to go up as the material is used for the manufacturing of solar panels, electrical connections for electric vehicles, and more. In 2020, the demand for the white metal increased by nearly 20%.

Why Trade XAG

Silver is a limited supply precious metal considered to be a safe haven asset. That means that is expected to maintain or increase in value in times of global upheaval and uncertainty. Investors may turn to the asset to hedge their investment portfolios against potential falls in the value of financial assets.

XAG price developments

Silver mining dates back to prehistoric times more than 5,000 years ago. The 16th century exploration boom boosted production with the opening of new mines. The industrial revolution contributed to developments in mining as well as to the increase of applications for the metal. In 1900-1920, world silver production increased by 50% to reach 190 million ounces due to new finds of deposits in America, Asia, and Europe.

The Stock Market crash of 1929 and the Great Depression caused the precious metal to plummet. Between 1932 – 1934, silver fell to an all-time low of $0.25 per ounce. The oil crisis of 1979 pushed the price of silver from $5 per ounce to $49. In general, during this period, commodity prices rebounded.

In 2011, in the aftermath of the U.S. debt ceiling crisis, silver rose to nearly $50 again – a high reached only for the second time in more than 30 years. During the first decade of the millennium, silver prices fell. In 2020, the Covid- 19 outbreak caused silver prices to soar again. In February 2021, the price of the precious metal climbed to an 8-year high to $30 per ounce.

The Euro

The euro is the official currency of the countries that make up the European Economic Community. This means that with a few exceptions, most countries in the euro area share the same currency and the currency reflects the economic situation of that specific group of nations. The euro was launched in 1999 while coins and banknotes entered into circulation in 2002.

Factors Affecting the Price of Euro

The price of the euro can be affected by economic data and economic report releases, interest rate decisions, changes in monetary policies published by the ECB (European Central Bank) and geopolitical events taking place within the euro area. At the same time, events occurring outside the eurozone, can also have an impact on the European community currency’s price.

How to trade XAGEUR

One way to invest in the precious metal is by trading CFDs on it. This way you can have exposure to silver prices without the need to purchase the asset. Also, you can speculate on the asset’s price direction and possibly gain from falls and rises. If you believe the price of the white metal is going to fall, you can open a sell position while if you think it’s going to go up, you can open a buy position.

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